Texas Pacific Land (NYSE:TPL) Stock Price Down 4.7% – Time to Sell?

Texas Pacific Land Corporation (NYSE:TPL) dropped 4.7% during trading on Tuesday . The stock traded as low as $515.00 and last traded at $514.1720. Approximately 199,233 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 517,447 shares. The stock had previously closed at $539.79.

Analysts Set New Price Targets

TPL has been the subject of a number of research reports. Zacks Research raised shares of Texas Pacific Land to a “hold” rating in a research report on Wednesday, December 3rd. Wall Street Zen cut Texas Pacific Land from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Monday, December 29th. Finally, KeyCorp boosted their price target on Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $639.00.

Texas Pacific Land Stock Down 4.3%

The stock has a market cap of $35.60 billion, a price-to-earnings ratio of 74.02 and a beta of 0.82. The company has a 50 day simple moving average of $390.79 and a 200-day simple moving average of $335.79.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The company had revenue of $211.60 million for the quarter, compared to the consensus estimate of $204.00 million.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.60 dividend. This is an increase from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, March 2nd. Texas Pacific Land’s dividend payout ratio is 34.38%.

Insider Buying and Selling

In other news, CAO Stephanie Buffington sold 1,608 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the sale, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. This represents a 42.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Donna E. Epps purchased 895 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the acquisition, the director owned 2,921 shares in the company, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TPL. MassMutual Private Wealth & Trust FSB increased its position in Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider’s stock worth $25,000 after buying an additional 69 shares during the period. Summit Securities Group LLC boosted its holdings in shares of Texas Pacific Land by 171.9% during the fourth quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 55 shares during the period. IFP Advisors Inc grew its position in shares of Texas Pacific Land by 185.3% during the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 63 shares during the last quarter. Quarry LP acquired a new stake in shares of Texas Pacific Land in the 3rd quarter worth about $29,000. Finally, CX Institutional acquired a new position in Texas Pacific Land during the 3rd quarter valued at about $30,000. 59.94% of the stock is currently owned by institutional investors.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.